The withdrawal transactions of assets that are pegged to another value or a fiat currency and are also known as "stable cryptocurrencies" have also been limited.

Accordingly, a daily limit of 3 thousand and a monthly limit of 50 thousand dollars will be applied for the transfers in question. However, these limits can be applied at double under the rule known as the "travel rule," which involves obtaining certain information from the customer.

Platforms will require a transaction description of at least 20 characters long from the customer regarding the nature of the transaction in all cryptocurrency asset transfer transactions.

Liquidity provision, market making, or inter-market arbitrage transactions are carried out, and it can be ensured that daily/monthly limits and timing rules may not apply with the separate board approval to be obtained for each customer in the transfer of crypto assets.

While transfers made on behalf of or in the name of platform clients by custodial institutions are subject to the restrictions in the relevant regulation article, no measures will be applied for transfers arising from capital market legislation carried out between platforms and custodial institutions.

In case the obligated parties do not comply with the relevant measures, the penalties foreseen in the Law on the Prevention of Money Laundering will be applied.
Treasury and Finance Minister Mehmet Şimşek had previously stated regarding the aforementioned regulations that efforts are being made to prevent the rapid transfer of criminal proceeds abroad.

Şimşek emphasized that it is critically important for all platforms to fulfill their obligations completely, both for user safety and the integrity of the financial system, stating that "In addition to administrative sanctions against platforms that do not comply with the new regulations, various legal and financial sanctions may also be applied, including the refusal or revocation of licenses." #HotTopicDiscussion#